Forest oil cut at UBS, no upside to price target seen

AudeLagorce

LONDON (MarketWatch) -- UBS cut Forest Oil Corp.
FST, +0.24%
to neutral from buy, saying it sees limited upside to its $41 price target. The broker told clients it believes management has two options: either pursue additional property acquisitions to bolster the asset base or consider takeout efforts. "Management has done a remarkable job turning around this company over the last three years, and selling from a position of strength may be the best option in the current environment," UBS concluded.

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